He said Ireland faces a ‘difficult balance’ framing the autumn Budget.
The 19 countries which use the Euro single currency – including Ireland – are at risk of economic recession, Finance Minister Paschal Donohoe has warned.
However, he said what Europe is seeing at the moment is lower growth rather than a recession.
The Finance Minister insisted the current cost of living pressures people are facing is 'very different' to the 2008 crash.
He also said energy is the main driver for inflation, which he expects to ease next year.
It comes as the government has faced criticism for not providing supports prior to autumn's budget, to ease current financial pressures.
Mr Donohoe was speaking as president of the Eurozone countries before he addressed an EU leaders’ summit which today is discussing the interlinked energy price crisis and the more general spiral in inflation rates.
This meeting is taking place in tandem with an EU leaders’ summit which today will have a difficult discussion on how to tackle growing economic difficulties.
Minister Donohoe has said the role of government's to help in a way that's affordable:
Jury At Jeffrey Donaldson Trial Sent Home For Weekend
Investigation Underway After Submachine Gun Fell From The Boot Of Garda Car
Withdrawal Of Solicitor Services For Criminal Legal Aid Cases Enters It's Fifth Day
Petrol and Diesel Prices Ease After US-Iran Peace Framework
42 South Africans Deported From Ireland
Investigations Continue After Woman Injured In Dublin
Convicted Paedophile Bill Kenneally Dies
Dáil Approves Proposal To Abolish Three-Day Abortion Waiting Period
